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1-Create a range chart based in ticks, set the period to 1. So for ES this will default to 0.25
1a-Go into the volume filter as described by @pludloe, and change Exclude <=300
1b-Open 2x ScanABVDT study, set one to scan for ask, min,300,point & set the other to scan for bid,min,300,point.
2- Open another chart in the same chartbook, using the timeframe you trade in eg 1min.
2a-Load 2x "study/Price Overlay", and reference the 2 x ScanABVDT studies from your other chart.
*If you want to add in more size filters, with different size/colour dots, then create multiple 0.25 range charts and overlay them on your main chart.
Credits to @pludloe for his work above, and also to whoever it was that created the ScanABVDT
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
Amazing work @pludloe and @Neo1 I know a lot of guys using bookmap and its a little out of my reach atm but seeing guys like you being able to recreate parts of it in SC is great.
Edit to my post i got it working on YM you guys rock! thank you!
Ive been looking for a way to see the bigger orders in the dow but ive yet to develop an effective edge with it so I am interested to hear how others use this also.
I primarily trade around mean reversion, looking for areas of volume capitulation around daily highs/lows/ extended ranges or other obvious reference points, to then trade moves back towards VWAP. I'm also focused on equities, which have different characteristics.
The best way to find out how watching big orders might help YOU, is to spend 1000s of hours watching the screen. After that, you might have some ideas to test out. IMO.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
Thanks indeed to @Neo1 and @pludloe for your contributions to this.
Since people here have an interest in Bookmap-type studies for Sierra Chart, let me draw your attention to this thread :
This tool for Sierra Chart has been directly inspired by the screenshots of rounder8 's work here:
The idea is to keep a record of the DOM on the chart.
Everything is explained on the picture below.
Additional information: what is plotted is …
@Nicolas11 has done great work to create a "Heatmap" for SC.
There's a few things I'd like to adjust in it, if someone here wants to give it a go ( Nicolas11 is not interested in making more changes to it). As it stands, the number of trades for the darkest color must be set manually by the user.It would be great if the study could automatically adapt itself to whatever the largest amounts currently are.
(Note : my username just changed from Wewe to Stillgreen)
